DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $1.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.36% from the stock’s current price.

According to Zacks, “DragonWave is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks. DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The principal application of DragonWave’s products is wireless network backhaul. Additional solutions include leased line replacement, last mile fiber extension and enterprise networks. DragonWave’s award winning HorizonĀ® solutions are known in the industry for their leading capacity, reliability, and spectral efficiency. The company has a network of distributor and reseller partners globally. Customers include Carriers, Service Providers, Utilities, WISP’s and Enterprises. DragonWave’s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. “

Several other research analysts also recently weighed in on DRWI. Rodman & Renshaw reiterated a “buy” rating and set a $4.00 price target on shares of DragonWave in a research note on Monday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of DragonWave in a research note on Monday, April 3rd. CIBC downgraded DragonWave from a “sector perform” rating to a “sector underperform” rating and set a $1.15 price target for the company. in a research note on Tuesday, May 30th. Finally, Desjardins downgraded DragonWave from a “hold” rating to a “sell” rating and cut their price target for the stock from $3.30 to $0.30 in a research note on Thursday. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. DragonWave has an average rating of “Hold” and a consensus target price of $2.03.

DragonWave (NASDAQ:DRWI) remained flat at $0.89 during mid-day trading on Monday. The company had a trading volume of 149,351 shares. DragonWave has a one year low of $0.64 and a one year high of $5.18. The company has a 50-day moving average price of $0.87 and a 200-day moving average price of $1.33. The stock’s market cap is $7.57 million.

DragonWave (NASDAQ:DRWI) (TSE:DWI) last posted its quarterly earnings results on Wednesday, July 12th. The communications equipment provider reported ($0.52) earnings per share for the quarter. The firm had revenue of $8.99 million for the quarter. DragonWave had a negative return on equity of 2,435.89% and a negative net margin of 40.27%. On average, equities analysts expect that DragonWave will post ($1.80) EPS for the current fiscal year.

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An institutional investor recently bought a new position in DragonWave stock. Sabby Management LLC bought a new stake in DragonWave Inc (NASDAQ:DRWI) (TSE:DWI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 466,696 shares of the communications equipment provider’s stock, valued at approximately $677,000. Sabby Management LLC owned approximately 7.65% of DragonWave as of its most recent filing with the SEC. 14.69% of the stock is currently owned by institutional investors.

DragonWave Company Profile

DragonWave Inc (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks.

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